A recent report from Aspen Digital reveals a significant shift in the private wealth sector in Asia, with 76% of wealth holders having ventured into digital assets. An additional 18% indicated plans to invest in the near future. This marks a notable increase in interest since a similar survey conducted in 2022, where only 58% of respondents had engaged with digital assets.
The report, which surveyed 80 family offices and high-net-worth individuals managing assets between $10 million and $500 million, highlights the growing acceptance of cryptocurrencies and related technologies among affluent investors in the region. Among those already invested in crypto, 70% have allocated less than 5% of their portfolios to these assets, although some have increased their stakes to over 10% in 2024.
Aspen Digital also noted that respondents are generally optimistic about Bitcoin’s outlook for the remainder of 2024, with 31% predicting a price of $100,000 by year-end. This optimism is further fueled by the approval of spot Bitcoin exchange-traded funds (ETFs), which has significantly boosted interest in digital assets among Asian investors. Notably, 53% of respondents reported gaining exposure to cryptocurrencies through funds or ETFs.
This trend aligns with global developments, as highlighted in the recent Global Crypto Hedge Fund Report by AIMA and PwC. Their survey of nearly 100 hedge funds across six regions, managing a combined $124.5 billion, indicated a rise in crypto exposure from 29% in 2023 to 47% in 2024. This increase is driven by regulatory clarity and the launch of crypto ETFs in both the United States and Asia.
